AIB GROUP UK PLC
Company Details
Registration Number
NI018800
Registered Address
92 Ann Street Belfast BT1 3HH
Company Status
Active
Employee Count
681
Turnover
£528,000,000
EBITDA
£326,000,000
Additional Information
Website
aibni.co.uk/Company Type
Public limited Company
Incorporated on
18 November 1985
Nature of Business (SIC)
64191 - Banks
Industries
0
Region
Northern IrelandCompany Location
Financial Overview
£3,924,000,000
£1,639,000,000
Last Reporting Period
Filed
25 Jan 2024
Period
01 Jul 2023 - 31 Dec 2023
Payment Timing
Average Time to Pay
59 days
Payment Periods
Shortest
30 days
Longest
0 days
Max Contractual
30 days
Payment Timeline
Not Paid Within Terms
26%
Payment Features
Payment Time Trends
Payment Distribution Trends
Performance Reports History
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Jul 2023 - 31 Dec 2023 | 25 Jan 2024 | 59 | 74% | 8% | 18% | 26% |
| 01 Jan 2023 - 30 Jun 2023 | 24 Jul 2023 | 33 | 77% | 10% | 13% | 23% |
| 01 Jul 2022 - 31 Dec 2022 | 31 Jan 2023 | 39 | 74% | 9% | 17% | 26% |
| 01 Jan 2022 - 30 Jun 2022 | 26 Jul 2022 | 34 | 75% | 12% | 13% | 25% |
| 01 Jul 2021 - 31 Dec 2021 | 21 Jan 2022 | 25 | 82% | 11% | 7% | 18% |
| 01 Jan 2021 - 30 Jun 2021 | 27 Jul 2021 | 31 | 77% | 11% | 11% | 23% |
| 01 Jul 2020 - 31 Dec 2020 | 29 Jan 2021 | 35 | 72% | 13% | 15% | 28% |
| 01 Jan 2020 - 30 Jun 2020 | 23 May 2022 | 37 | 73% | 13% | 14% | 27% |
| 01 Jul 2019 - 31 Dec 2019 | 24 May 2022 | 42 | 71% | 12% | 17% | 29% |
| 01 Jan 2019 - 30 Jun 2019 | 24 May 2022 | 34 | 73% | 13% | 14% | 27% |
| 01 Jul 2018 - 31 Dec 2018 | 31 Jan 2019 | |||||
| 01 Jan 2018 - 30 Jun 2018 | 31 Jul 2018 | 34 | 72% | 12% | 16% | 28% |
Company Summary
AIB GROUP (UK) P.L.C
is a leading banking and financial services company in the United Kingdom
The company offers a wide range of products and services, including corporate and personal banking, insurance, wealth management, and investment banking
One of the key focuses of AIB GROUP (UK) P.L.C
is sustainability
The company has a comprehensive sustainability program in place, which aims to reduce its environmental impact and promote responsible business practices
This includes initiatives such as reducing carbon emissions, promoting diversity and inclusion, and supporting local communities
The company's products and services are designed to meet the diverse needs of its customers
Its corporate banking services cater to the needs of businesses of all sizes, offering a range of financial solutions such as lending, cash management, and trade finance
AIB GROUP (UK) P.L.C
also offers personal banking services, including savings and investment products, mortgages, and insurance
The key people at AIB GROUP (UK) P.L.C
include the Chief Executive Officer, Colin Hunt, and the Chairman, Richard Pym
The company has a team of experienced and dedicated professionals who work towards the company's goals of providing excellent customer service and driving sustainable growth
For more information on AIB GROUP (UK) P.L.C., including its products and services, sustainability program, and key people, visit their website at www.aibgb.co.uk
The registered office address of the company is 10 Molesworth Street, Dublin 2, Ireland
Company Review
Trend Analysis
The data for AIB GROUP (UK) P.L.C. shows that there has been a slight increase in the average time taken to pay invoices, going from 34 days in the first period to 35 days in the third period. However, there has been a significant decrease in the percentage of invoices paid later than 60 days, going from 16% to 15% in the third period. This indicates that the company has been improving their payment process and paying their invoices more promptly.
Volatility Analysis
There is some volatility in the data for AIB GROUP (UK) P.L.C., with fluctuations in the average time taken to pay invoices and the percentage of invoices paid within 30 days. However, the percentage of invoices paid later than 60 days has remained relatively stable throughout the different periods.
Summary Analysis
The data for AIB GROUP (UK) P.L.C. shows that there has been a slight increase in the average time taken to pay invoices, going from 34 days in the first period to 35 days in the third period. However, there has been a significant decrease in the percentage of invoices paid later than 60 days, going from 16% to 15% in the third period. In the most recent period, the company has shown significant improvement in paying their invoices promptly, with 82% of invoices paid within 30 days and only 7% paid later than 60 days. This is a significant improvement compared to the previous periods and shows the company's commitment to paying their suppliers on time.
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
AIB shall pay the Charges by electronic transfer or such other method designated by AIB within thirty (30) days of the date of receipt of a correct and valid invoice submitted in accordance with our Purchase Terms.
Were there any changes to the standard payment terms in the reporting period?
No
Any other information about payment terms
N/A
Maximum contractual payment period agreed
30
Dispute Resolution Process
If we received an invoice and there is something wrong with it this will be disputed back to the vendor. We have 2 ways of disputing invoices, manually and Auto-dispute. When we manually dispute an invoice a comment is left on the invoice telling the supplier the reason behind the dispute and how to fix this. If the invoice is Auto-disputed than a comment is left to the supplier giving them the dispute reason and also advising them to contact AIB Coupa Helpdesk on 01-6412340.
Other Payment Information
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
❌
Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
✅
Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
❌
Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
❌
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
❌
